On January 1, 2020, Sheridan Corporation purchased a newly issued $1,150,000 bond. The bond matured on December 31, 2022, and paid interest at 6% every June 30 and December 31. The market interest rate was 8%. Sheridans fiscal year-end is October 31, and the company had the intention and ability to hold the bond u

ntil its maturity date. The bond will be accounted using the amortized cost model. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1.

the price paid for the bond using a financial calculator or Excel functions. (Round answers to 2 decimal places, e.g. 52.75.)

PV $Enter your answer in accordance to the question statement 911049.78